Search Results for: real estate

Unprecedented rise in demand for commercial property outstrips supply

by • Facilities management, News, Property

Supply-and-demandThere was a marked increase in demand for office space in the first quarter of this year. According to the latest RICS (Royal Institution of Chartered Surveyors) commercial property survey, tenant demand for commercial property rose at an unprecedented rate; with 52 per cent more surveyors polled reporting higher demand from clients for space. Proving that the recovery is no longer limited to the capital, this increased demand is being seen in all regions outside of London. However, demand for commercial property is fast outstripping supply, resulting in rising rents. Following four quarters of declining supply as suitable commercial space is snapped up – 30 per cent in this latest poll are reporting a further drop in the availability of office space, with expectations for rising rents at the highest level since before the financial crisis. (more…)

CoreNet issues phase one of road-map to zero energy buildings

by • Environment, Facilities management, News, Property

Road map to net-energy buildingsCoreNet Global and the Rocky Mountain Institute have issued new guidance that lays out a framework for corporations to better manage their energy usage. According to Next Generation Energy Management, corporations have made progress in energy management and performance since 2007 when CoreNet Global and RMI first collaborated on this topic. Over two-thirds of corporations now have a sustainability agenda and staff as well as energy management plans, and nearly half have dedicated energy managers, a position that was only just emerging in 2007. However, research indicates that in many cases, these efforts have plateaued, so the new report is designed as Phase One of a road map toward the goal of net-zero buildings, in which buildings use the same or less energy than they generate through the use of renewables such as solar and wind power. (more…)

BCO report claims to reveal link between green offices and business performance

by • Environment, Facilities management, News

Switch

A new report from the British Council for Offices claims that building owners could enjoy significant savings in their operating costs of up to £50 per square metre as well as improved staff productivity  and wellbeing by investing in environmentally friendly offices and work practices. The research, Improving the Environmental Performance of Offices claims to illustrate the benefits of energy efficient offices and highlight the positive impact they can have on employee productivity. The report calls on building occupiers to focus on key areas such as benchmarking and monitoring their energy usage. The BCO believes there is already a shift in attitudes towards a greater understanding of how offices actually perform environmentally rather than simply how they are designed and that more and more businesses are waking up to specific issues such as how much energy their buildings use outside of office hours. (more…)

CBI moves to new flagship London office at Cannon Place

by • Company news, Property, Workplace design

CBI Cannon Street 1The CBI is moving out of the Centre Point building this weekend to take up residence at its new flagship offices in London’s Cannon Place on Monday (31st March). The UK’s leading business group is leaving the Centre Point building in London’s West End after 34 years to relocate to new offices in Cannon Place, above Cannon Street station, where its new headquarters will be based. The 25,000 sq ft space on the fourth floor of the eight-floored Cannon Place will be open plan and home to around 200 staff. It will boast a member lounge with work stations and meeting rooms, as well as regular exhibitions showcasing the best of British business from around the globe. This first exhibitor will be Bristol-based film and television company Aardman Animations, the makers of the award-winning Wallace and Gromit series. (more…)

£56m office development planned for Salford’s regeneration area

by • Company news, News, Property, Public Sector

Salford £56m regeneration schemeWork is to start on a £56m Grade A office and car park development in Salford’s Greengate Embankment regeneration area. The joint venture partners behind the development are Carillion, Ask Real Estate and Tristan Capital Partners, with Carillion acting as the main contractor. Work on the site, which was part of the former Manchester Exchange railway station, will start in June, with delivery of the 172,640sq ft office and car park planned for spring 2016. Salford City Council has signed an eight-year pre-lease on the whole of the first office building and Q-Park has agreed a 35 year pre-lease for the 442 space car park. The site, which was acquired from Network Rail, also has planning permission for a second phase which comprises another Grade A office building providing 150,000 sq ft of space. (more…)

Innovate or die? Why facilities management must embrace change to survive

by • Comment, Facilities management

Innovate

According to recent reports on workplace, facilities management and corporate real estate, the support services sector needs to change. Some even say it needs to innovate or die. That might be a little harsh, but the current model that the majority of FM service providers work to and that their clients take for granted is tired and has not kept pace with the evolving business environment. Zurich Insurance’s report of late 2012 into CRE & FM said the sector was at a cross roads; in 2013 Jones Lang LaSalle said something similar and picked out five global trends to which CRE and FM had to respond. IFMA & CBRE have taken a similar line, but are more specific – namely FM had to embrace its softer side, focus on people skills and develop them to ensure success. (more…)

New data suggests that London no longer belongs to the UK, but the World

by • Comment, News, Property

One of the subjects touched on in the first episode of Evan Davis’s BBC documentary series about the economic distinctions between London and the rest of the UK Mind the Gap was the impact of investment by the global super-rich into London property. At one point he asked the Malaysian investor behind the £8 billion Battersea Power Station redevelopment whether he’d considered investing in other cities in the UK. The response was a straight no, but the accompanying glance said rather more. London is no  longer a British city but one that belongs to the world, it said, so any comparison with Manchester, Birmingham, Bristol, Leeds, Cardiff and Edinburgh is meaningless. You might disagree with this point of view, but a raft of new data appears to make it very evident indeed that London is now shaped by global plutocrats in a way that cannot be mirrored in the rest of the UK.

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London conference debates international office measurement standard

by • Facilities management, News, Property

Measuring officesThe implementation of an international property measurement standard for offices (IPMS for Offices) moved forward last week when a group of leading professional bodies from across the world met at RICS’ HQ in London. The two-day meeting (20-21 Feb 2014) brought together representatives from many of the 31 member organisations of the International Property Measurement Standard Coalition (IPMSC), who discussed plans for the launch and implementation of IPMS across international real estate markets. A rise in cross-border property investment and expansion by global corporate occupiers has exposed the difficulties that can arise when dealing with differing national and local measurement practices. The first of its kind, IPMS seeks to standardise the way office space is measured around the world. (more…)

European cities vie to wear Tech Hub crown

by • News, Property, Technology

© Walt Disney Productions

© Walt Disney Productions

You may not realise it, but apparently there is a close fought race being run between European cities for the title of European Tech Hub. According to a new report from Colliers International the front runners are London, Berlin, Dublin, Paris, Amsterdam, Munich and, in a Eurovision-like extension of Europe’s borders, Tel Aviv. London is currently in pole position but Berlin and Dublin are hot on its heels as they vie for the title of Europe’s ‘Silicon Valley’, according to latest research from Colliers International, global real estate advisors. According to the report, London needs to stay on its toes if it is to fend off the upstarts from Germany and Ireland.  Berlin, in particular, is expected to add some 100,000 jobs to its tech sector within the next seven years.

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UK commercial property investment in 2013 hits a six year high

by • News, Property

BroadgateLast year marked a six year high in commercial property investment across the UK according to a new report from property information providers CoStar, driven by increases in regional markets and a sharp upturn of interest in Central London from overseas investors. A total of £52.7 billion of transactions was completed across the UK in 2013, albeit that two-thirds of investments were made in London and the South East of England. It was also a year for record breaking deals, notably the Broadgate office development in the City (above) and More London on the South Bank, each of which were valued at £1.7 billion. London was particularly attractive for Asian investors who CoStar claim see it as a safe haven and invested £9.2bn, up 80.6 percent on 2012.

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Consultation begins on international commercial property standards

by • Architecture, Facilities management, News, Property, Workplace design

OLYMPUS DIGITAL CAMERAToday marks the beginning of the three month public consultation by the recently formed International Property Measurement Standards Coalition as the organisation seeks to develop standardised way of measuring commercial, domestic and retail property. Formed in May of last year, the IPMSC includes many of the world’s leading property institutions including the Royal Institute of Chartered Surveyors (RICS) from the UK. The primary aim of the new body is to remove disparities between local property measurement standards by developing globally accepted standards to allow occupiers and investors to make better decisions about property. Research from Jones Lang LaSalle claims that currently a property’s floor area can vary by up to 24 percent depending on how it is measured.

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CBI to embrace open plan working at new London HQ

by • Architecture, Facilities management, News, Workplace design

CBI's new HQ at Cannon Place

The CBI is to move its headquarters to new offices in Cannon Street, London, after more than 30 years at its present Centre Point home, which is to be converted into apartments. Staff at the UK’s leading business organisation will make the switch from the multi floor office layouts of the 1960s built tower to an open plan 25,000 sq ft space when they move into the fourth floor of the eight-floored Cannon Place development in the spring. The CBI director-general, John Cridland, said he was looking forward to the move to the new offices, on which the organisation has signed a 15-year lease and invited its members to make use of a dedicated member’s lounge at the new London HQ to meet their clients and CBI staff. (more…)

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